Merry - Gag - Christmas

The next time you hear anyone brag that the Fed must have saved the economy (again), because the stock market is up 17 or whatever percent since Bernanke conjured up $600,000,000,000 out of thin air, just haul out this depressing and revealing little statistic.

Because in real terms, the stock market is up exactly bupkis.

And up the bupkis is exactly where you’re taking Bernanke’s Keynesian wet dreams.